Crude Oil Production in Azerbaijan decreased to 577 BBL/D/1K in March from 581 BBL/D/1K in February of 2025. This dataset provides the latest reported value for - Azerbaijan Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Key information about Azerbaijan Crude Oil: Production

• Azerbaijan Crude Oil: Production was reported at 504.244 Barrel/Day th in Dec 2023
• This records a decrease from the previous number of 558.356 Barrel/Day th for Dec 2022
• Azerbaijan Crude Oil: Production data is updated yearly, averaging 247.052 Barrel/Day th from Dec 1960 to 2023, with 64 observations
• The data reached an all-time high of 1,014.088 Barrel/Day th in 2009 and a record low of 60.600 Barrel/Day th in 1960
• Azerbaijan Crude Oil: Production data remains active status in CEIC and is reported by Organization of the Petroleum Exporting Countries
• The data is categorized under World Trend Plus’s Association: Energy Sector – Table RB.OPEC.CO: Crude Oil Production: Yearly

In March 2025, the average crude oil export price amounted to $538 per ton, which is down by -7.9% against the previous month.

In 2024, the Azerbaijani crude oil market increased by 18% to $7.1B, rising for the fourth year in a row after two years of decline. Overall, consumption, however, recorded a abrupt contraction. Over the period under review, the market reached the maximum level at $13.2B in 2012; however, from 2013 to 2024, consumption failed to regain momentum.

In 2023, the value of crude oil exports from Azerbaijan was highest to Italy, amounting to approximately 15.21 million U.S. dollars. This was followed by exports to Turkey, which amounted to approximately 5.36 million U.S. dollars.

China Import Price: Crude Oil: Europe: Azerbaijan data was reported at 8,500.000 USD/Ton in Jul 2022. This records an increase from the previous number of 947.057 USD/Ton for Apr 2022. China Import Price: Crude Oil: Europe: Azerbaijan data is updated monthly, averaging 512.212 USD/Ton from May 2008 (Median) to Jul 2022, with 42 observations. The data reached an all-time high of 15,235.294 USD/Ton in Jun 2010 and a record low of 198.942 USD/Ton in Jun 2020. China Import Price: Crude Oil: Europe: Azerbaijan data remains active status in CEIC and is reported by CEIC Data. The data is categorized under China Premium Database’s Price – Table CN.PH: Crude Oil Import and Export Price.

Price for Crude Oil and Processed Petroleum in Azerbaijan - 2023. Find the latest marketing data on the IndexBox platform.

In 2024, the Azerbaijani market for crude oil and processed petroleum increased by 16% to $10.7B, rising for the fourth year in a row after two years of decline. In general, consumption, however, showed a pronounced shrinkage. Crude oil and processed petroleum consumption peaked at $16.5B in 2012; however, from 2013 to 2024, consumption failed to regain momentum.

Azerbaijan Oil Rents: % of GDP data was reported at 20.983 % in 2021. This records an increase from the previous number of 11.148 % for 2020. Azerbaijan Oil Rents: % of GDP data is updated yearly, averaging 23.254 % from Dec 1990 (Median) to 2021, with 31 observations. The data reached an all-time high of 39.581 % in 2006 and a record low of 4.884 % in 1998. Azerbaijan Oil Rents: % of GDP data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Azerbaijan – Table AZ.World Bank.WDI: Environmental: Land Use, Protected Areas and National Wealth. Oil rents are the difference between the value of crude oil production at regional prices and total costs of production.;World Bank staff estimates based on sources and methods described in the World Bank's The Changing Wealth of Nations.;Weighted average;

In 2023, the annual average price of AI-92 petroleum in Azerbaijan was one manat per liter, while the price of AI-95 petroleum was *** manat per liter.

The Azerbaijan Oil & Gas Downstream Industry is experiencing robust growth, projected to maintain a Compound Annual Growth Rate (CAGR) exceeding 1.21% from 2025 to 2033. While the exact market size in 2025 is not provided, considering the industry's established presence and ongoing investments in refinery modernization and petrochemical expansion within Azerbaijan, a reasonable estimate for the 2025 market size would be around $5 billion. This figure is derived from considering comparable economies with similar downstream sectors and applying the provided CAGR to create a plausible projection. Key drivers include increasing domestic energy demand fueled by population growth and industrialization, alongside strategic government initiatives aimed at diversifying the economy beyond reliance on solely upstream activities. Furthermore, the expansion of regional export markets and the strategic location of Azerbaijan as a transit point for Caspian Sea resources contribute significantly to this positive growth trajectory. However, challenges remain, including reliance on aging infrastructure, environmental concerns related to emissions, and global energy price volatility. The industry is segmented across various downstream activities such as refining, petrochemicals, and marketing & distribution. Major players like TotalEnergies, TechnipFMC, KBR, SOCAR (State Oil Company of the Azerbaijan Republic), and Shell are actively involved, driving technological advancements and influencing market dynamics. The forecast period (2025-2033) anticipates continued growth, although potential restraints like geopolitical instability and fluctuating global crude oil prices could influence the overall trajectory. Strategic investments in sustainable and environmentally responsible practices within the downstream sector will be crucial for long-term, sustainable growth and ensuring competitiveness in the global market. This growth narrative underscores the substantial opportunities and challenges that characterize the Azerbaijan Oil & Gas Downstream Industry. Key drivers for this market are: 4., Growing Electricity Generation along with Energy Consumption Demand4.8.; Increasing adoption of Renewable Energy. Potential restraints include: 4., Phasing out of Coal-Based Power Plants. Notable trends are: Petrochemicals Plants is Expected to Witness Growth.

Crude soybean oil imports into Azerbaijan was estimated at 1.8K tons in 2023, increasing by 1.8% compared with 2022 figures.

The Azerbaijani crude soybean oil market surged to $4M in 2024, growing by 73% against the previous year. Over the period under review, consumption continues to indicate a modest expansion. Over the period under review, the market attained the peak level in 2024 and is likely to see steady growth in the immediate term.

In 2023, the amount of crude palm oil imported into Azerbaijan shrank notably to 46K tons, with a decrease of -37.2% against the previous year.

Statistics illustrates consumption, production, prices, and trade of Crude Maize (Corn) Oil in Azerbaijan from Jan 2019 to Jun 2025.

In 2023, Azerbaijan exported roughly 11 million tons of crude oil to Italy, establishing itself as the major crude oil supplier for the country. The African country of Libya, the United States, and the middle eastern country of Iraq followed. Once a leading fossil fuel importer to Italy, Russia did not import any oil to Italy in 2023. Italy's dependency on imported fossil fuels In general, the volume of crude oil imported to Italy decreased over time. However, a new increase has been observed since 2020, showing that the country is still highly dependent on imports of fossil fuels. The petroleum dependency rate in Italy was over 94 percent in 2021, while the natural gas dependency rate was almost 96 percent. Major fossil fuels suppliers to Italy While crude oil was mainly imported from Azerbaijan and Libya, Algeria and Azerbaijan were the leading suppliers of natural gas to Italy in 2023. In comparison, Qatar was the leading country for liquefied natural gas imports to Italy in 2022. The global price of crude oil increased during the energy crisis in 2022, and Italy’s national expenditure on this fossil fuel peaked to roughly 33 billion euros.

Statistics illustrates consumption, production, prices, and trade of Crude Soybean Oil in Azerbaijan from 2007 to 2024.

进口价格:原油:欧洲:阿塞拜疆在07-01-2022达8,500.000美元/吨，相较于04-01-2022的947.057美元/吨有所增长。进口价格:原油:欧洲:阿塞拜疆数据按月更新，05-01-2008至07-01-2022期间平均值为512.212美元/吨，共42份观测结果。该数据的历史最高值出现于06-01-2010，达15,235.294美元/吨，而历史最低值则出现于06-01-2020，为198.942美元/吨。CEIC提供的进口价格:原油:欧洲:阿塞拜疆数据处于定期更新的状态，数据来源于CEIC Data，数据归类于中国经济数据库的价格 – Table CN.PH: Crude Oil Import and Export Price。

The size of the Central Asia Oil and Gas Midstream Market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 3.00">> 3.00% during the forecast period. The midstream sector of the oil and gas industry in Central Asia represents a pivotal component of the region's energy landscape, involving the transportation, storage, and processing of hydrocarbons from extraction sites to consumers. This sector is essential for linking the rich oil and gas reserves of Central Asia—particularly in nations such as Kazakhstan, Turkmenistan, and Uzbekistan—with international markets. The region's advantageous geographical position, serving as a bridge between Europe and Asia, further amplifies its significance within the global energy supply framework. Critical infrastructure, including pipelines, storage facilities, and export terminals, is vital for the effective movement of hydrocarbons over extensive distances while addressing geopolitical complexities. Recent trends in the Central Asia midstream sector indicate a surge in investments aimed at infrastructure development, such as pipeline expansions and the establishment of new routes to diversify export channels and mitigate reliance on any single market. Notable projects, including the Trans-Caspian Pipeline and various enhancements to existing pipelines, are designed to improve connectivity and bolster the region's economic advancement. Nevertheless, the sector encounters obstacles such as geopolitical strife, volatile global oil prices, and environmental issues. Striking a balance between economic advantages and sustainable practices, along with fostering regional collaboration, will be essential for the ongoing development and stability of the oil and gas midstream market in Central Asia. Recent developments include: August 2022: Kazakhstan aimed to sell some of its crude oil through Azerbaijan's most extensive oil pipeline. Kazakhstan is seeking alternatives to a route Russia has threatened to shut., August 2022: KazMunayGas (KMG) oil and gas company sought to develop bilateral cooperation with Azerbaijan's SOCAR energy company in connection to the trans-Caspian infrastructure development. SOCAR deals with exploring oil and gas fields in the Caspian Sea., September 2021: The State Oil Company of Azerbaijan (SOCAR) and the Swiss-Dutch company, Vitol Group, agreed to transport about 1 million tons of Turkmen oil annually via the Baku-Tbilisi-Ceyhan oil trunk pipeline (abbreviated as BTC). SOCAR transports Turkmen oil across the Caspian Sea by tankers. The length of the BTC pipeline is 1,768 kilometers. The oil pipeline passes through the territory of three countries - Azerbaijan (443 km), Georgia (249 km), and Turkey (1076 km).. Key drivers for this market are: 4., Increasing Demand from Industrial Applications4.; Growing Infrastructure Across the World. Potential restraints include: 4., A Rise In Concerns Related To Carbon Emissions And A Shift Towards Electric Vehicles And Renewable Sources Of Energy. Notable trends are: Transportation Sector to Dominate the Market.

The Azerbaijani crude palm oil market surged to $82M in 2024, picking up by 57% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption enjoyed buoyant growth. As a result, consumption reached the peak level of $116M. From 2023 to 2024, the growth of the market remained at a lower figure.